ICE No. 2 cotton settles moderately higher

Nearby months reversed course from negative settlements over the past seven sessions, ending on gains ranging between 60 to 86 points. March ’26 futures opened at 62.83 cents/lb (-14) and lost additional ground as soon as the market opened, dropping to a low of 62.74 cents/lb (-23). A slow upward trading pattern occurred over the next several hours with the spot month peaking at a high of 63.86 cents/lb (+89) during the last hour of the session. The most active contract moved off its high but settled near the top if its range at 63.86 cents/lb (+86).

ICE estimated volume at 70,800 contracts, lower than yesterday’s 103,324. At the time cotton settled, the US dollar was trading lower, as well as corn while soybeans and wheat were trending higher.

Total open interest rose by 10,875 contracts to 359,599, moving to its highest level on record for the 10th day in a row. March ’26, May ’26 and July ’26 interest increased by 5,150, 5,169 and 100 contracts, respectively, to 184,471, 68,519 and 56,932 while December ’26 interest decreased by 37 contracts to 44,363.

Certificated stocks were last reported at 8,595 bales, which included decerts for 1,317 bales and remaining at its lowest level since February 26, 2025 (1,732). There were no bales awaiting review and no bales reported in both cert stocks and CCC loan as of January 26.

Posted in: Cotlook Headlines News